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Daily Technical Outlook − Wednesday 11.26.2008
Wed, Nov 26 2008, 06:13 GMT
by E-Forex Team
EURUSD
The Euro continues to advance higher against the greenback, testing offers near the 1.31 mark on yesterday. Daily sentiment is bullish, favoring extended gains which may bring key resistance at 1.3250/60 on focus during the upcoming trading session. Support is seen at 1.2925 backed by 1.2800 and 1.2680/00. Resistance levels are emerging at 1.3080/00 followed by 1.3125 and 1.3250/60. While the Euro holds above the 1.2800 mark, short term bullish structure will remain unchanged. Hourly studies are bearish at the time of this writing. Current quote is 1.2962 @06:10 GMT
Support levels: 1.2925, 1.2800/15 and 1.2680/00.
Resistance levels: 1.3080/00, 1.3125 and 1.3260.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish
AUDUSD
Resistance on the .6600 handle has been tested on yesterday but it remains intact for now. A sustained break is needed to confirm the beginning of an uptrend, already signaled by the daily momentum which turned bullish once getting past .6400. However, until .6600 will be cleared out, current uptrend could be false therefore the .6600 is needed as a confirmation. Support is seen at .6400 backed by .6340 and .6255. Current quote is .6440 @06:10 GMT
Support levels: .6390/00, .6340 and .6255.
Resistance levels: .6550, .6600 and .6700.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bullish
EURCHF
The upside remains under pressure as the Euro continues to advance higher versus the Swiss Franc, reaching higher highs on a daily basis so far. Uptrend is strong and it seems that a breach of 1.5550 is possible within the next trading sessions, if current support into the 1.5400 zone holds. Below 1.5400, support is also seen at 1.5335 and 1.5220/30. Current quote is 1.5455 @06:10 GMT
Support levels: 1.5400, 1.5335 and 1.5220/30.
Resistance levels: 1.5470, 1.5550 and 1.5620.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish
Published on Wed, Nov 26 2008, 06:13 GMT
Archive
- Daily Technical Outlook - Thursday 01.08.2009
Published On Thu, Jan 8 2009, 07:22 GMT - Daily Technical Outlook - Wednesday 01.07.2008
Published On Wed, Jan 7 2009, 07:44 GMT - Daily Technical Outlook - Tuesday 01.06.2009
Published On Tue, Jan 6 2009, 07:47 GMT - Daily Technical Outlook - Monday 01.05.2009
Published On Mon, Jan 5 2009, 07:45 GMT - Daily Technical Outlook - Thursday 12.18.2008
Published On Thu, Dec 18 2008, 07:51 GMT
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